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<figure class="image"><img src="https://v2.cimg.co/news/89984/225588/dogecoin.jpeg" alt="" srcset="https://v2.cimg.co/news/89984/225588/responsive-images/dogecoin___media_library_original_1920_1277.jpeg 1920w, https://v2.cimg.co/news/89984/225588/responsive-images/dogecoin___media_library_original_1200_798.jpeg 1200w, https://v2.cimg.co/news/89984/225588/responsive-images/dogecoin___media_library_original_900_598.jpeg 900w, https://v2.cimg.co/news/89984/225588/responsive-images/dogecoin___media_library_original_720_478.jpeg 720w, https://v2.cimg.co/news/89984/225588/responsive-images/dogecoin___media_library_original_600_399.jpeg 600w, https://v2.cimg.co/news/89984/225588/responsive-images/dogecoin___media_library_original_300_199.jpeg 300w" sizes="100vw" width="1920" class="content-img"/><figcaption>Supply: Unsplash</figcaption></figure><p><a target="_blank" rel="noopener" href="https://cryptonews.com/coins/dogecoin/">Dogecoin (DOGE)</a> is within the information once more after <a target="_blank" rel="noopener" href="https://cryptonews.com/tags/elon-musk/">Elon Musk</a> on Wednesday reaffirmed his bid to purchase Twitter, and DOGE supporters now hope that their favourite meme coin will get the publicity they consider it deserves because of the deal.</p><p>As all the time, with regards to dogecoin, the notorious $1 worth goal turns into a subject, even supposing dogecoin has by no means reached that stage. At its peak in Might of 2021, DOGE reached as excessive as $0.74 earlier than it entered a bear market that has now introduced all of it the way in which all the way down to $0.06 – a decline of greater than 90%.</p><figure class="image"><img alt="" sizes="100vw" width="2092" class="content-img lazyload" src="https://v2.cimg.co/news/89984/225587/screenshot-2022-10-06-at-14-14-32.jpg" srcset="https://v2.cimg.co/news/89984/225587/responsive-images/screenshot-2022-10-06-at-14-14-32___media_library_original_2092_1806.jpg 2092w, https://v2.cimg.co/news/89984/225587/responsive-images/screenshot-2022-10-06-at-14-14-32___media_library_original_1200_1035.jpg 1200w, https://v2.cimg.co/news/89984/225587/responsive-images/screenshot-2022-10-06-at-14-14-32___media_library_original_900_776.jpg 900w, https://v2.cimg.co/news/89984/225587/responsive-images/screenshot-2022-10-06-at-14-14-32___media_library_original_720_621.jpg 720w, https://v2.cimg.co/news/89984/225587/responsive-images/screenshot-2022-10-06-at-14-14-32___media_library_original_600_517.jpg 600w, https://v2.cimg.co/news/89984/225587/responsive-images/screenshot-2022-10-06-at-14-14-32___media_library_original_300_258.jpg 300w"/><figcaption>DOGE weekly chart. Supply: TradingView.com</figcaption></figure><p>From a shorter-term technical evaluation, DOGE now appears to be like poised for additional upside after robust bullish motion introduced the worth via the $0.063 resistance space on Tuesday this week. Price noting can be that the worth seems to have discovered assist to the draw back round $0.050 and $0.057, with these two ranges now key if DOGE is to keep away from additional losses.</p><p>Additionally pointing in a bullish route proper now could be the truth that DOGE has damaged above each the 20 and 50-day shifting common strains. These shifting averages are each thought of essential ranges to look at for medium-term merchants.</p><figure class="image"><img alt="" sizes="100vw" width="2092" class="content-img lazyload" src="https://v2.cimg.co/news/89984/225586/screenshot-2022-10-06-at-14-14-00.jpg" srcset="https://v2.cimg.co/news/89984/225586/responsive-images/screenshot-2022-10-06-at-14-14-00___media_library_original_2092_1810.jpg 2092w, https://v2.cimg.co/news/89984/225586/responsive-images/screenshot-2022-10-06-at-14-14-00___media_library_original_1200_1038.jpg 1200w, https://v2.cimg.co/news/89984/225586/responsive-images/screenshot-2022-10-06-at-14-14-00___media_library_original_900_778.jpg 900w, https://v2.cimg.co/news/89984/225586/responsive-images/screenshot-2022-10-06-at-14-14-00___media_library_original_720_622.jpg 720w, https://v2.cimg.co/news/89984/225586/responsive-images/screenshot-2022-10-06-at-14-14-00___media_library_original_600_519.jpg 600w, https://v2.cimg.co/news/89984/225586/responsive-images/screenshot-2022-10-06-at-14-14-00___media_library_original_300_259.jpg 300w"/><figcaption>DOGE every day chart. Supply: TradingView.com</figcaption></figure><p>Dogecoin got here into focus once more on Tuesday this week when Tesla chief Elon Musk revealed in an SEC <a target="_blank" rel="noopener" href="https://www.sec.gov/Archives/edgar/data/1418091/000110465922105787/tm2227435d1_ex99-s.htm">filing</a> that he nonetheless needs to purchase Twitter on the initially agreed upon worth. The affirmation from Musk was shocking provided that he has beforehand indicated an absence of curiosity in pursuing the deal, whereas accusing Twitter of giving out deceptive details about bot accounts on the platform, amongst different issues.</p><p>Dogecoin has on a number of events up to now been promoted by Elon Musk on Twitter, and the worth has tended to spike every time Musk has talked about it.</p><p>When <a target="_blank" rel="noopener" href="https://cryptonews.com/news/elon-musk-offers-to-buy-100-of-twitter-calls-it-best-and-final-offer.htm">Musk’s original bid to buy Twitter</a> was first revealed again in April this yr, DOGE instantly spiked up by round 6% earlier than later giving again a few of its positive aspects. Equally, the DOGE worth fell by round 5% throughout the first quarter-hour after Musk in Might <a target="_blank" rel="noopener" href="https://cryptonews.com/news/elon-musk-puts-twitter-deal-hold.htm">put the Twitter deal on hold</a>.</p>
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